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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInA Job Well Done by the Commission – SEC ACTIONS
The Commission’s focus on retail investors has resulted in a series of cases frequently called offering frauds. In those cases, as repeatedly noted in this space, investors typically get lured to part with what is often their savings and/or retirement capital by unscrupulous persons. Frequently the schemers bate investors by waving around high-profile and popular […]
NERA Economic Consulting: Federal Securities Suit Filings Remain at Recent Elevated Levels | The D&O Diary
Securities class action lawsuit filings remained at elevated levels in 2019, but the mix of cases changed during the year, according to the recently published annual report from NERA Economic Consulting. According to the report, which is entitled “Recent Trends in Securities Class Action Litigation: 2019 Full-Year Review,” there were relatively fewer merger objection lawsuits […]
SEC Disgorgement ‘Critical’ to Stop Fraud, States Tell SCOTUS (2)
The SEC’s ability to recover ill-gotten gains from wrongdoers is “critical” to joint securities enforcement efforts, attorneys general from 23 states and the District of Columbia told the U.S. Supreme Court in a filing. The bipartisan group of state law enforcement officials urged the court Tuesday to side with the Securities and Exchange Commission when […]
NASAA Names New General Counsel
The North American Securities Administrators Association (NASAA) announced today that Vincente Martinez has joined the organization as its General Counsel. He will report to NASAA Executive Director Joseph Brady. via NASAA Names New General Counsel.
SEC/Telegram Litigation Commentary & Compendium (A Must Read for FinTech Players)
You walk up to the gate at a zoo with a white horse on which you have painted black stripes. You insist that the horse is a zebra and therefore should be fed and displayed with the zebras. The zookeeper politely explains that your horse is not a zebra. You contend that the zookeeper is wrong, […]
How Collins avoided a hefty fine: The crooked congressman must pay for his financial crime – New York Daily News
Why isn’t the SEC requiring Collins and the two tippees to pay civil penalties? Why isn’t Collins jointly and severally liable with the tippees for disgorgement and pre-judgment interest? Why isn’t the DOJ seeking any money? The SEC has a long history of going hard after high-visibility insider traders, such as Martha Stewart, to deter […]
SEC’s top Democrat issues warning ahead of departure next month | Financial Times
The senior Democratic member of the US Securities and Exchange Commission has warned that shareholders’ ability to influence corporate boardroom decisions is under threat in comments ahead of his departure next month. Robert Jackson, whose exit has been expected after his term officially ended in June last year, told the Financial Times that updates to […]
Intel: Warren threatens Trump with insider trading probe over Soleimani strike
Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., urged an insider trading investigation into President Donald Trump for reportedly telling Mar-a-Lago guests about the Soleimani strike in advance, according to a joint letter sent to the chairmen of the Securities and Exchange Commission and the Commodity Futures Trading Commission on Monday. The request comes after a report […]
Assistant US Attorney Ashwin J. Ram Joins Steptoe’s White-Collar Practice in Los Angeles | Steptoe & Johnson LLP
Steptoe & Johnson LLP is pleased to announce that Ashwin J. Ram, an assistant US attorney in the major frauds section of the US Attorney’s Office in Los Angeles, has joined the firm’s White-Collar Criminal Defense practice as a partner. Ashwin will reside in Steptoe’s Los Angeles office, where his practice will also include civil […]
Austin Gerig Named as SEC’s Chief Data Officer
The Securities and Exchange Commission today announced that it has named Austin Gerig as its Chief Data Officer. Dr. Gerig, currently Assistant Director of the Office of Data Science in the Division of Economic and Risk Analysis (DERA), will assume his new position on Feb. 3. The Chief Data Officer will help develop the SEC’s […]